OFI Invest Asset Management Purchases New Holdings in Genuine Parts Company $GPC

OFI Invest Asset Management purchased a new stake in shares of Genuine Parts Company (NYSE:GPC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 864 shares of the specialty retailer’s stock, valued at approximately $105,000.

Several other large investors have also recently bought and sold shares of GPC. Goldman Sachs Group Inc. lifted its stake in Genuine Parts by 276.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer’s stock valued at $399,449,000 after purchasing an additional 2,461,497 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Genuine Parts by 377.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 933,418 shares of the specialty retailer’s stock valued at $113,233,000 after purchasing an additional 737,836 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Genuine Parts by 22.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer’s stock valued at $327,974,000 after purchasing an additional 498,469 shares during the last quarter. Nuveen LLC acquired a new stake in Genuine Parts in the 1st quarter valued at about $41,646,000. Finally, Pzena Investment Management LLC acquired a new stake in Genuine Parts in the 1st quarter valued at about $35,860,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Genuine Parts

In other news, EVP Naveen Krishna sold 5,303 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $138.12, for a total transaction of $732,450.36. Following the transaction, the executive vice president directly owned 26,112 shares of the company’s stock, valued at approximately $3,606,589.44. This trade represents a 16.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

GPC has been the subject of several recent analyst reports. Truist Financial raised their target price on shares of Genuine Parts from $137.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Genuine Parts in a research note on Wednesday, October 8th. Loop Capital raised their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Evercore ISI raised their target price on shares of Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of Genuine Parts from $134.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and a consensus price target of $138.86.

Genuine Parts Stock Down 0.9%

Genuine Parts stock opened at $130.34 on Monday. The stock has a market cap of $18.13 billion, a P/E ratio of 22.43 and a beta of 0.77. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $144.29. The company’s 50-day moving average price is $137.52 and its two-hundred day moving average price is $127.40.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The firm had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.10 billion. During the same period in the prior year, the firm earned $2.44 EPS. The business’s revenue was up 3.4% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, analysts expect that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.12 annualized dividend and a dividend yield of 3.2%. Genuine Parts’s dividend payout ratio (DPR) is currently 70.91%.

Genuine Parts Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.